ATB Records Mixed Results
In spite of stagnating revenues the Austrian subsidiary of Wolong Group recorded an increase of 50% in operating results. Net income was down, though.
The former A-Tec subsidiary ATB faces improving results. Revenues rose by 1.8% to € 91.2m (after € 89.5m) in the first three months of 2012. EBIT rose by 50.5% to € 6.8m (after € 4.52m). As a result, the EBIT margin was up from 5.0% to 7.5%.
ATB´s EBITDA was up by 61.7% to € 9.162m from € 5.66m. Earnings before taxes remained almost stable at € 4.1m (+1.3%). Nevertheless, net income fell by 20% to € 3.10m (after € 3.88m).
Order intake reached € 89.2m in the first quarter (after € 91.8m in the reference period). This decline is due to the weaker economic growth and the declining results in the industrial engine segment. Order stock rose by 0.7% to € 129.5m (after € 128.6m). Investments grew by 77.6% to € 2.23m.
In 2012, ATB expects a rise in revenues by 10%. At the end of the first quarter, ATB employed 3,573 workers. The year before, ATB still hand 3,959 staff members (-386).
ATB expects a moderately positive development in the core markets. In connection with the stable industrial growth, a “highly positive” operating business development is anticipated.